TG Therapeutics Target of Unusually High Options Trading (NASDAQ:TGTX)

Key Points

• TG Therapeutics saw a significant increase in options trading, with 8,800 call options purchased, representing a 53% rise from the average volume.
• The company's stock price dropped 15.2% to $29.70 amidst trading, with a recent earnings report indicating a miss in expectations.
• Institutional investors hold 58.58% of TG Therapeutics stock, with several hedge funds recently increasing their stakes in the company.

TG Therapeutics, Inc. (NASDAQ:TGTX - Get Free Report) saw some unusual options trading on Monday. Stock traders acquired 8,800 call options on the stock. Thisrepresentsanincreaseof53% compared to the average volume of 5,744 call options.

Insiders Place Their Bets

In other news, Director Yann Echelard sold 10,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $36.94, for a total value of $369,400.00. Following the transaction, the director directly owned 228,816 shares in the company, valued at $8,452,463.04. The trade was a 4.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.64% of the company's stock.

Institutional Trading of TG Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hussman Strategic Advisors Inc. increased its holdings in shares of TG Therapeutics by 140.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the biopharmaceutical company's stock worth $4,535,000 after buying an additional 73,500 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in TG Therapeutics by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 906,475 shares of the biopharmaceutical company's stock valued at $32,624,000 after purchasing an additional 13,675 shares during the last quarter. Sigma Planning Corp increased its holdings in TG Therapeutics by 10.9% in the 2nd quarter. Sigma Planning Corp now owns 35,227 shares of the biopharmaceutical company's stock valued at $1,268,000 after purchasing an additional 3,472 shares during the last quarter. Canton Hathaway LLC increased its holdings in TG Therapeutics by 46.5% in the 2nd quarter. Canton Hathaway LLC now owns 8,600 shares of the biopharmaceutical company's stock valued at $310,000 after purchasing an additional 2,730 shares during the last quarter. Finally, Amalgamated Bank increased its holdings in TG Therapeutics by 1.3% in the 2nd quarter. Amalgamated Bank now owns 38,824 shares of the biopharmaceutical company's stock valued at $1,397,000 after purchasing an additional 501 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company's stock.

TG Therapeutics Stock Down 1.8%

TG Therapeutics stock traded down $0.51 during mid-day trading on Wednesday, reaching $27.89. 868,760 shares of the company were exchanged, compared to its average volume of 2,480,602. TG Therapeutics has a 12-month low of $19.44 and a 12-month high of $46.48. The company has a debt-to-equity ratio of 1.03, a quick ratio of 3.04 and a current ratio of 4.02. The firm has a market cap of $4.43 billion, a P/E ratio of 75.24 and a beta of 1.95. The business has a fifty day moving average of $36.57 and a 200 day moving average of $36.04.

TG Therapeutics (NASDAQ:TGTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.15). TG Therapeutics had a net margin of 13.31% and a return on equity of 27.83%. The company had revenue of $141.15 million during the quarter, compared to analysts' expectations of $147.76 million. During the same period in the prior year, the business posted $0.04 earnings per share. The company's quarterly revenue was up 92.1% compared to the same quarter last year. Research analysts anticipate that TG Therapeutics will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised TG Therapeutics to a "hold" rating and set a $37.00 target price on the stock in a report on Thursday, July 10th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $43.80.

TG Therapeutics Company Profile

TG Therapeutics, Inc, a commercial stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of novel treatments for B-cell mediated diseases in the United States and internationally. It provides BRIUMVI, an anti-CD20 monoclonal antibody for the treatment of adult patients with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease in adults.